•Increasing inclination of population towards aesthetic appearance,
growing fashion consciousness, and changing standards of living are
the key factor driving costume jewelry market growth. Costume jewelry
is in high demand among working women, teenagers, and corporate
people. Innovation and adoption of new technology in costume jewelry
helps to attract the customers. Diferent type of raw materials are used
to make costume jewelry such as synthetic stones, semi-precious
stones, glass, plastic, lac, terracotta, pearl and metals, which makes
costume jewelry look diferent than traditional gold and silver jewelries.
Owing to such benefts, costume jewelry are extensively adopted by
the population. Therefore, increase in upper medium income group
across the world is projected to propel demand for costume jewelry
over the forecast period. The demand for costume jewelry is not
limited to wedding season or specifc occasions
•Popularity of costume jewelry among diferent age group across the
globe is creating immense opportunity for growth of the market.
According to a report by Gem and Jewelry Export Promotion Council
(GJPEC) 2017, total export of costume fashion jewelry in 2016, from
India was US$ 67 Million, which grew by 116.1% from the previous
year.
•However, costume jewelry are not suitable for everyone, as it can
cause itching, irritation, and patch formation, which can result in
subsequent allergies. Also, most of the costume jewelry are made from
nickel, as it is easily moldable, cheap, and durable, where as it is also
the common metal, which is prone to cause allergies.
Market Outlook
•Among product types, necklaces and chains segment accounted for
the highest market share in the market in 2017. Necklaces and chains
have gained signifcant traction in the market due to ease of use in
carrying and storage. Furthermore, it is inexpensive and doesn’t
require much security and attention.
•Among distributional channel, supermarket segment dominated the
market in 2017, owing to availability of many diferent brands of